AUD/USD up to 0.9370 after China GDP

The Australian dollar pared losses on Wednesday after China’s first-quarter economic growth slightly exceeded expectations and helped underpin risk sentiment.

The safe-haven yen slipped as Tokyo shares extended gains following vague comments from Japanese Finance Minister Taro Aso on the country’s $1.26 trillion government pension fund, which traders took to mean that it could step up its stock buying.

Commodity currencies had been weak going into the Chinese data on caution ahead of the figures and news that Ukraine had launched military operations against separatists. The New Zealand dollar was hit further by surprisingly soft inflation data at home.


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.